Omoyele Sowore reacts to reports of a police search for him following a viral video. Read about the incident, his response, and public reactions. IntroductionPopular activist and politician, Omoyele Sowore, has responded to reports suggesting that the Nigeria Police Force has initiated a search for him. The controversy stems from a viral video Sowore shared on his social media accounts, sparking widespread discussions online. What Led to the Police Action?Sowore, who is also a former presidential candidate of the African Action Congress (AAC), recorded the video during an altercation with police officers on the Murtala Muhammed International Airport Access Road in Lagos. The video, which has since gained traction on social media, shows Sowore confronting officers stationed along the road, urging them to stop obstructing traffic. Sowore’s Response to the Alleged ManhuntIn a recent post on his official X (formerly Twitter) handle on Wednesday night, Sowore claimed that the police are actively searching for him. However, the activist appeared unfazed, asserting his availability in the Federal Capital Territory (FCT), Abuja, should the authorities wish to engage with him. Sowore’s StatementAddressing the situation in his post, Sowore wrote: “I have been informed that the Nigeria Police Force is searching for me. I am currently in Abuja and available at their convenience.It appears that the new year is about to start on a positive note! #RevolutionNow.” Public ReactionsThe video and Sowore’s subsequent reaction have sparked a wave of discussions online, with many Nigerians sharing mixed views on the situation. Some have praised his boldness, while others debate the appropriateness of his actions. ConclusionOmoyele Sowore’s response highlights his readiness to face the authorities amid ongoing controversies. As the situation unfolds, Nigerians are closely watching to see how the police and Sowore will address the matter moving forward. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
The Federal Government is reviewing the possibility of terminating the N90 billion contract for constructing a second runway at Abuja International Airport. This decision follows the contractor’s controversial request for a cost variation. The proposed adjustment increases the project cost to a staggering N532 billion—a 491% hike from the initial contract sum. Keyamo Criticizes the Variation Request Speaking during his budget defense session before the National Assembly Joint Committee on Aviation, the Minister of Aviation and Aerospace Development, Festus Keyamo, labeled the variation request as unreasonable. “If a contract was awarded for N90 billion, and within two years they are proposing N532 billion, I won’t accept it. The president himself dislikes such variations. My option is to cancel the contract,” Keyamo stated. The minister revealed that N30 billion had already been disbursed to the contractor as part of the mobilization process. Additionally, compensation was paid to affected communities for land use. However, despite initial progress, including excavation and preparatory works, the massive cost increase has brought the project to a standstill. Options on the Table Keyamo disclosed that two alternative proposals are under consideration. He plans to present these to President Bola Tinubu after consulting relevant stakeholders. While no final decision has been reached, canceling the contract remains a likely option if the variation request is not withdrawn. 2025 Budget Insights According to a report from the News Agency of Nigeria (NAN), the Ministry of Aviation has proposed a total budget of N71 billion for 2025. Of this, N69 billion is allocated for capital projects, while personnel and overhead costs are estimated at N1 billion and N745 million, respectively. Senator Abdulfatai Buhari, Chairman of the Joint Committee, emphasized the importance of maximizing allocated funds and ensuring accountability. He assured that the committee would intensify oversight efforts, particularly for critical projects like the second runway. Buhari also commended Keyamo for his efforts in revitalizing the aviation sector, noting that the Nigeria Airspace Management Agency (NAMA) has been reinstated in the 2025 budget after being excluded in 2023 and 2024. Call for Accountability The Joint Committee urged aviation agencies to improve their responsiveness to National Assembly invitations, stressing that effective oversight is vital for transparency and accountability in executing government projects. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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ABUJA – The Federal Government, through the Ministry of Foreign Affairs, has announced that all visa applications will transition to an online platform by March 1st. This move aims to streamline the process and ensure thorough vetting. Dr. Olubunmi Tunji-Ojo, the Minister of Interior, made this known during a discussion on ‘X Spaces’ hosted by influencer Dr. Segun Awosanya. The Minister revealed the establishment of a centralized visa approval center to unify the visa application system. This reform will bolster national security, reduce corruption, and standardize the visa approval process. “The centralized visa approval center is a significant milestone for this administration. It will curb corruption, enhance national security, and create uniformity in visa processing. By March 1st, the entire visa application process will be online, allowing for proper vetting,” Dr. Tunji-Ojo stated. He also highlighted the completion of a harmonized data center at the Bola Ahmed Tinubu Technology Innovation Complex (BATTIC), situated at the Nigeria Immigration Service (NIS) headquarters in Sauka, Abuja. “We have constructed one of the largest data centers in Nigeria’s history – an 8.3-petabyte center. Previously, the Nigeria Immigration Service lacked its own data center, and sensitive information was stored with private contractors, which violated the Data Protection Act. “To address this, we initially promised a 1.4-petabyte data center, but we surpassed expectations by delivering an 8.3-petabyte facility, which is now one of the largest globally.” This new infrastructure ensures that Nigeria’s security documents and citizen data are managed with the utmost compliance and security, aligning with international standards. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Discover how the influx of bandits into the South West has heightened insecurity concerns, as Gani Adams and security groups call on governors for collaboration. The alarming influx of bandits and terrorists from Northern Nigeria into the South West has raised serious security concerns. Despite warnings and offers of collaboration from key regional security leaders, such as the Aare Ona Kakanfo of Yorubaland, Gani Adams, South West governors have yet to actively engage with local security groups to combat this growing threat. Gani Adams: South West Governors Are Unresponsive Gani Adams, through his Special Assistant on Media, Kehinde Aderemi, expressed disappointment that governors in the South West have not responded to requests for collaboration to enhance security in the region. Adams stated, “Yorubaland will become too hot for terrorists and ISWAP members if the governors partner with us.” The Oodua Peoples Congress (OPC) and other groups under the Southwest Security Stakeholders Group (SSSG) are ready to secure the region but need governmental approval to act effectively. OPC and Hunters’ Groups Call for Support OPC’s Efforts to Collaborate The OPC leadership disclosed that they have written to governors and traditional rulers across the South West seeking collaboration but have received no response. Deputy Coordinator of OPC in Ogun State, Alao Olusola, noted, “We are ready to flush out all criminal elements if given the go-ahead.” Nigeria Forest Security Service’s Contributions Bayo Adediran, South West Media Officer for the Nigeria Forest Security Service (NFSS), acknowledged that some governors, including Seyi Makinde (Oyo), Ademola Adeleke (Osun), and Dapo Abiodun (Ogun), have supported them with operational vehicles and resources. Adediran emphasized the need for further collaboration to eliminate criminal activities, particularly in the forests. State-Specific Security Challenges Osun State In Osun State, the Coordinator of OPC, Adeyemi Aboderin, revealed that the group is on standby under Gani Adams’ directives. However, they are still waiting for the state government’s invitation for joint efforts. With 36,000 members across 30 local governments, the OPC is prepared to contribute to securing lives and property. Ondo State The South-West Security Network, also known as Amotekun Corps, has taken a more active approach, arresting 21 suspected criminals in Ondo State. Commander Adetunji Adeleye assured that strategies are in place to deter criminals and ensure safety in the region. Adeleye highlighted their achievements, including the prevention of 15 kidnapping incidents within a month. He emphasized, “The South West is not a haven for criminals. We will smoke them out and secure our region.” Conclusion The influx of bandits and terrorists into the South West requires immediate action and collaboration among all stakeholders. While groups like OPC, NFSS, and Amotekun Corps have demonstrated readiness, the lack of governmental engagement limits their effectiveness. To secure Yorubaland and protect its residents, South West governors must prioritize collaboration with local security groups. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Federal Government has released ₦22 billion to settle accrued pension rights for retirees of Treasury-funded MDAs under the Contributory Pension Scheme. Read more for details on disbursement and coverage periods. The Federal Government has disbursed ₦22 billion through the Office of the Accountant General of the Federation (OAGF) to address unpaid accrued pension rights for retirees of Treasury-funded Ministries, Departments, and Agencies (MDAs) under the Contributory Pension Scheme (CPS). Payment Breakdown The National Pension Commission (PenCom) confirmed that this disbursement is part of the 2024 Appropriation, specifically covering the period from July to September. In an official statement, PenCom expressed: “PenCom is pleased to announce the additional release of ₦22 billion by the Office of the Accountant General of the Federation (OAGF) as part of the 2024 Appropriation for the period July to September. These funds were deposited into the Retirement Benefits Bond Redemption Fund (RBBRF) Account at the Central Bank of Nigeria to partially settle unpaid accrued pension rights for retirees of Federal Government Treasury-funded MDAs under the Contributory Pension Scheme (CPS).” Disbursement Details The released funds have been utilized to settle accrued pension rights for verified retirees and deceased employees. The payments cover pensions for retirees verified and enrolled from October 2023 to January 2024. The credited amounts have been transferred directly to the Retirement Savings Accounts (RSAs) of the affected individuals through their respective Pension Fund Administrators (PFAs). This recent release brings the total disbursement for accrued pension rights under the 2024 Appropriation to ₦66 billion. Focus on Retiree Welfare This milestone underscores the government’s commitment to ensuring retirees receive their pensions promptly. PenCom continues to coordinate closely with the OAGF to ensure that accrued pension rights are addressed consistently and efficiently. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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President Donald Trump pressures Vladimir Putin to negotiate a peace deal with Ukraine, threatening tougher sanctions on Russia if the conflict persists. Read about the latest developments and what this means for global diplomacy In a bold move, U.S. President Donald Trump called on Russian President Vladimir Putin to negotiate a peace agreement with Ukraine, warning of severe economic consequences if the conflict persists. This statement, shared on Trump’s Truth Social account, underscores his determination to end the prolonged war—a promise he made as part of his second-term agenda. Trump’s Ultimatum to Russia Trump emphasized the urgency of resolving the conflict, threatening higher taxes, tariffs, and sanctions on Russian exports if a deal is not reached soon. He stated: “If we don’t make a ‘deal,’ and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries.” While maintaining that he harbors no ill intentions toward Russia, Trump reiterated his long-standing positive relationship with Putin, describing this step as a favor to a struggling Russian economy. A Call for Peace Trump urged Putin to seize the opportunity to negotiate and end what he described as a “ridiculous war,” asserting that it could be resolved through diplomatic means. He declared: “Let’s get this war, which never would have started if I were President, over with! We can do it the easy way, or the hard way – and the easy way is always better. It’s time to ‘MAKE A DEAL.’” Impact of Existing Sanctions Russia’s economy has been significantly affected by U.S. sanctions imposed since its invasion of Ukraine in 2022. The U.S. Department of Commerce reported a sharp decline in Russian exports, dropping from $4.3 billion in 2023 to $2.9 billion in 2024. Key imports from Russia, including fertilizers and precious metals, have drastically decreased. Tougher Stance on Putin Trump’s latest remarks represent his strongest position on Putin since his re-election. While concerns linger about whether Trump might pressure Ukraine instead of Russia for a peace settlement, he assured the public that he is exploring every avenue to end the conflict. During a White House press conference, Trump hinted at the possibility of additional sanctions if Putin does not cooperate. However, he avoided commenting on whether his administration would continue military aid to Ukraine, stating: “We’re looking at that. We’re talking to Zelensky, and we’re going to be talking to President Putin very soon.” High Expectations for Peace Before his inauguration, Trump claimed he could end the Ukraine war within 24 hours by leveraging his negotiation skills. However, achieving this breakthrough has proven challenging. He criticized Putin for “destroying Russia” by prolonging the war, adding that Ukrainian President Volodymyr Zelensky expressed a desire for peace. Putin’s Response In response, Putin congratulated Trump on his second-term inauguration and expressed willingness to engage in dialogue with the new U.S. administration to achieve “lasting peace” in Ukraine. Conclusion As Trump seeks to leverage his diplomatic skills and economic measures to end the Ukraine conflict, the world watches to see whether his promises will lead to a resolution. With tougher sanctions looming, the stakes are higher than ever for both Russia and Ukraine to find common ground. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Securities and Exchange Commission (SEC) has announced a significant milestone in Nigeria’s financial market, revealing that Collective Investment Schemes (CIS) reached over ₦3 trillion in 2024. This was disclosed by the SEC Director General, Dr. Emomotimi Agama, during a recent media briefing in Abuja. What Are Collective Investment Schemes? Collective Investment Schemes provide a structured avenue for individuals to diversify their investment risks without directly engaging with individual companies. Explaining the concept, Dr. Agama noted, “With collective investment schemes, you gain exposure to a diverse range of shares in one go. Instead of investing directly in a single company, you spread your investment across multiple companies through a single platform.” This investment method minimizes risks, offers diversification, and cushions investors from market fluctuations. “Even if you lack a deep understanding of the market, you can rely on experts managing the scheme to navigate the complexities and make informed investment decisions,” he added. Capital Market’s Role in Economic Development Dr. Agama highlighted the pivotal role of the Nigerian capital market in driving economic growth, particularly through its support of the Central Bank of Nigeria’s (CBN) recapitalization directive for banks. In 2024, the CBN mandated an increase in the capital requirements for Nigerian banks, a move many initially considered challenging. However, the capital market stepped in to provide the necessary funding, raising approximately ₦2.2 trillion to help banks meet these requirements. “The capital market has proven to be a critical driver of growth and development by providing the needed long-term funds,” Dr. Agama emphasized. Government Bonds and Infrastructure Financing Beyond bank recapitalization, the capital market has also facilitated numerous government bond issuances aimed at funding critical infrastructure projects. Dr. Agama stressed the importance of long-term capital for infrastructure development, cautioning against relying on short-term money market loans for long-term projects. “Infrastructure is essential for any economy to grow, and the capital market remains the best source of funding for long-term projects,” he said. Conclusion The Nigerian capital market continues to play a transformative role in the nation’s economic landscape. From supporting collective investment schemes to raising funds for banks and infrastructure projects, its impact is evident. Investors are encouraged to leverage these opportunities to grow their wealth while contributing to Nigeria’s economic development. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Nigeria has announced plans to collaborate with the Russian Federation in key sectors such as Space Technology, Agriculture, and STEM (Science, Technology, Engineering, and Mathematics). This strategic partnership aims to bolster Nigeria’s socio-economic growth and foster innovation in critical areas of development. Strengthening Bilateral Relations through Science and Innovation The Permanent Secretary of Innovation, Science, and Technology, Mrs. Esuabana Nko Asanye, highlighted the importance of international partnerships in advancing scientific progress. According to her, “Science does not operate in isolation, and nations must collaborate to build strong bilateral relationships.” Mrs. Asanye made this statement during a courtesy visit by officials from the Russian Embassy, led by Sergei Pliushchov, the Senior Counselor for Trade and Economic Affairs, in Abuja. Focus on Space Technology and Capacity Building The Ministry expressed keen interest in leveraging Russian expertise in Space Technology by training Nigerian scientific officers and researchers. The Permanent Secretary applauded the Russian government for its willingness to sponsor such training programs, emphasizing that these initiatives will be pivotal in driving Nigeria’s development. “We value Russia’s support in empowering our workforce and enhancing technical capabilities. This partnership will open doors for innovation and productivity in Nigeria,” Mrs. Asanye remarked. Russia’s Commitment to Nigeria’s Development Sergei Pliushchov, representing the Russian Embassy, reaffirmed Russia’s dedication to strengthening Nigeria’s technical and scientific expertise. He noted that the Russian government is actively engaging online experts to train Nigerians in diverse fields, ensuring that the country’s workforce is equipped with modern skills. According to Pliushchov, “Russia is committed to collaborating with Nigeria in training and retraining scientific experts to improve productivity and promote sustainable development.” Conclusion This collaboration between Nigeria and Russia marks a significant milestone in leveraging global partnerships to address critical challenges and advance technology-driven solutions. With a focus on capacity building and innovation, this partnership holds the potential to transform key sectors, positioning Nigeria for greater economic prosperity. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Nigeria Labour Congress (NLC) has condemned the Federal Government’s 50% telecom tariff hike, calling for a nationwide boycott and emphasizing its adverse impact on workers and citizens. Labour Union Threatens Nationwide Boycott to Resist Telecom Tariff Hike The Nigeria Labour Congress (NLC) has expressed strong disapproval of the Federal Government’s decision to approve a 50% increase in telecom tariffs. This move, which comes amidst widespread economic hardship, has been described as an unjustifiable burden on Nigerian workers and citizens. In a statement released by the NLC President, Comrade Joe Ajaero, the tariff hike, approved by the Nigerian Communications Commission (NCC), was criticized as a direct attack on workers’ welfare and a neglect of the masses’ needs in favor of corporate interests. A Call to Action: NLC Urges Nationwide Resistance Ajaero stressed the need for collective action, including the possibility of a nationwide boycott of telecommunication services, to compel the government to reverse the hike. “This increase undermines our dignity and survival as a people. We urge all Nigerians to join forces and reject this punitive hike that prioritizes corporate profits over citizens’ welfare.” Telecom Costs Strain Nigerian Workers The NLC revealed alarming statistics highlighting the hike’s impact on workers: The NLC insists telecommunication services are essential and must remain accessible. Ajaero criticized the government for showing urgency in approving the tariff hike while delaying decisions that benefit workers, such as the minimum wage increment. Questions of Accountability The NLC President raised critical questions regarding government priorities: Ajaero noted that while the NLC is not entirely against tariff reviews, the 50% increase is unreasonable and unacceptable. He urged the Federal Government, NCC, and National Assembly to suspend the implementation and engage in dialogue for a fair resolution. NLC’s Position: A Fight for Equality and Fairness The NLC reaffirmed its commitment to defending the interests of Nigerian workers and citizens. It pledged to resist policies that deepen poverty and inequality, emphasizing the importance of government accountability in protecting the rights and welfare of its people. “Together, we will fight this injustice and demand that the government aligns its policies with the interests of the people, not corporate elites.” READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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A tanker explosion in Ibadan has tragically claimed the life of the driver and injured one other. Read the full report on the incident, including the swift response from the Oyo State Fire Services Agency. A tragic tanker explosion in Ibadan has claimed the life of its driver and left another person injured. The incident occurred when a tanker loaded with Premium Motor Spirit (PMS) lost control and burst into flames. Oyo State Fire Service Confirms the IncidentMr. Yemi Akinyinka, General Manager of the Oyo State Fire Services Agency, confirmed the unfortunate event in a statement released to news outlets on Wednesday. According to him, the tanker lost control, collided with two other trucks, and somersaulted into a pit before catching fire. “The incident, which occurred near Fijabi House, along Agbowo, Ojoo/Iwo Road Expressway, resulted in the death of the tanker driver while the motor boy was rescued and taken to the University College Hospital (UCH), Ibadan, for urgent medical care,” Akinyinka reported. Swift Response Prevented Greater DamageThe agency received a distress call at 2:45 a.m. and promptly dispatched personnel to the scene. “We acted quickly to prevent the fire from spreading to nearby residential areas,” Akinyinka added. Upon arrival, emergency responders found three trucks, all within a 20-meter radius, involved in the fire. While the tanker was completely destroyed, the other two trucks were salvaged by the firefighting team. Security Measures at the SceneThe agency’s Director of Operations, Mr. Ismail Adeleke, along with team members, police officers, and other security agencies, worked together to maintain order and ensure safety at the site. The tragic accident serves as a reminder of the importance of safety precautions when transporting flammable substances. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Breaking news: Beatrice Ekweremadu, wife of former Deputy Senate President Ike Ekweremadu, has been released from a UK prison and returned to Nigeria. Read the full story here. Mrs. Beatrice Ekweremadu, the wife of Senator Ike Ekweremadu, Nigeria’s former Deputy Senate President, has officially returned to Nigeria following her release from a UK prison. The development was confirmed by a reliable source on Wednesday, according to LMSINT MEDIA. Background on the CaseSenator Ike Ekweremadu, his wife, Beatrice, and Dr. Obinna Obeta were convicted by a UK court in a high-profile case involving charges of organ harvesting. The court sentenced the former Deputy Senate President to 10 years in prison, while Mrs. Ekweremadu received a six-year sentence. The Return to NigeriaAfter serving her time in the UK, Mrs. Ekweremadu’s return marks a significant moment for her family and supporters. Although her husband remains incarcerated, this new chapter provides a glimmer of hope amidst the family’s ongoing challenges. Reactions and ImplicationsHer release and return have sparked widespread discussions across Nigeria, with many expressing mixed opinions about the case and its broader implications. The Ekweremadu family’s story has highlighted critical issues surrounding ethics, law, and international justice. Stay tuned to LMSINT MEDIA for further updates on this developing story. Call-to-Action (CTA):What’s your take on Mrs. Ekweremadu’s return? Share your thoughts in the comments section and follow LMSINT MEDIA for more breaking news updates. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Nigerian government has conveyed its profound sympathies to the people and government of Turkey following a devastating fire at the Grand Kartal Hotel in the Kartalkaya Ski Resort. The tragic incident, which occurred on January 21, 2025, claimed the lives of 76 people and left over 50 others injured. Official Statement from Nigeria In a statement released by Kimiebi Ebienfa, the Acting Spokesperson for Nigeria’s Ministry of Foreign Affairs, the Federal Government expressed its deep sorrow over the incident. “The Federal Republic of Nigeria wishes to express its heartfelt condolences to the Government and People of the Republic of Turkiye over the unfortunate fire incident at the Grand Kartal Hotel in the Kartalkaya Ski Resort,” the statement read. The Nigerian government extended sympathies to the families of the victims and wished those injured a speedy recovery. Tragedy Strikes in Northwestern Turkey The fire erupted in the early hours of the morning, engulfing the hotel located in Bolu Province, Northwestern Turkey. Rescue teams have been working tirelessly to manage the aftermath of the blaze as investigations into the cause of the fire continue. Global Support and Mourning The incident has sparked international condolences, with world leaders expressing solidarity with Turkey during this difficult time. Local authorities and emergency services remain on the ground, focusing on recovery efforts and providing support to the affected families. Nigeria Stands with Turkey As Turkey mourns one of its deadliest hotel fires, Nigeria joins the global community in standing by the nation. The tragic loss of lives has underscored the need for global solidarity in the face of such calamities. Key Details: Call to Action: Let’s stand in unity with Turkey by sharing words of support and keeping the victims and their families in our thoughts during this challenging period. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Highlight the purpose of the rights issue and its impact on Nigeria’s financial sector. Example: Explore how Stanbic IBTC’s N148.7 billion rights issue on NGX Invest is driving growth in key sectors like oil, gas, and sustainable finance. The Nigerian Exchange (NGX) is redefining capital-raising in Nigeria through its revolutionary e-offering platform, NGX Invest. The platform’s latest milestone is the launch of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue, marking another step in NGX’s efforts to enhance investor participation and streamline the fundraising process. Overview of the Rights IssueLaunched on January 15, 2025, and closing on February 21, 2025, the rights issue allows existing shareholders to subscribe to 2,944,772,083 ordinary shares at 50 kobo each for N50.50 per share. This offering is structured as five (5) new shares for every twenty-two (22) ordinary shares held as of October 29, 2024. Interested shareholders can conveniently take up their rights via the NGX Invest platform at https://invest.ngxgroup.com. NGX Invest: Transforming Nigeria’s Financial LandscapeJude Chiemeka, Chief Executive Officer of NGX Limited, praised the platform’s success, stating: “The success of NGX Invest as a capital-raising platform reinforces our commitment to providing innovative solutions for issuers and investors alike. Stanbic IBTC’s confidence in our infrastructure reflects the opportunities we continue to create for sustainable growth in Nigeria’s financial markets.” Stanbic IBTC’s Strategic VisionKunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings Plc, acknowledged the platform’s efficiency in facilitating the rights issue. He emphasized that the funds raised would target critical sectors, including: Adedeji also expressed gratitude to shareholders, underscoring their confidence in the bank’s vision. NGX Group’s Broader ImpactTemi Popoola, Group MD/CEO of NGX Group, highlighted the platform’s role in driving economic growth, stating: “At NGX Group, we are committed to fostering innovation that drives economic growth and empowers issuers to achieve their goals. NGX Invest exemplifies how we continue to position the Exchange as the preferred destination for capital formation in Africa.” As the Nigerian financial sector adapts to evolving regulations, NGX remains at the forefront, offering cutting-edge tools that attract investments, engage stakeholders, and drive sustainable economic transformation. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
